President Barack Obama Message Board

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Politics : President Barack Obama

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To: peter michaelson who wrote (100815)	9/5/2011 4:45:09 PM
From: cirrus	of 149317

Ten years ago the United States had full employment and a budget surplus projected to reach $800 billion a year by 2010. What triggered that happy time? Tax increases. Bill Clinton's economic plan which raised taxes and controlled spending led to the the longest peacetime expansion in history. Why? Confidence. People had confidence that the government was being run by adults. What did George Bush and the Republicans do to run the train off the tracks? Cut taxes. Deliberately create a deficit for no good reason, then start wars and increase entitlements without attempting to pay for them. The solution is not rocket science: Reverse the Bush tax cuts, control spending somewhat - but not by the numbers currently being tossed around - and fix the biggest drag on consumer spending - health care. Once business and consumers see that adults are running the country confidence can return, followed by growth and jobs. Of course, it ain't gonna happen, so a depression may well be in the cards. A serious contraction (depression) may be not only inevitable but also what is required.

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